XML 46 R35.htm IDEA: XBRL DOCUMENT

SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 2025

SEGMENT REPORTING

Schedule of information for each operating segment

The following tables provide information for each operating segment (in thousands):


For the Three Months Ended June 30, 2025

		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Revenue
Communication Services
Mobility - Business		$	4,857		$	8		$	—		$	4,865
Mobility - Consumer			21,466			—			—			21,466
Total Mobility			26,323			8			—			26,331
Fixed - Business			18,416			28,854			—			47,270
Fixed - Consumer			43,333			22,505			—			65,838
Total Fixed			61,749			51,359			—			113,108
Carrier Services			3,423			29,806			—			33,229
Other			2,088			118			—			2,206
Total Communication Services Revenue			93,583			81,291			—			174,874
Construction			—			2,216			—			2,216
Other
Managed Services			1,311			2,899			—			4,210
Total other revenue			1,311			2,899			—			4,210
Total Revenue			94,894			86,406			—			181,300

Operating Expenses
Cost of communication services and other			33,755			43,410			—			77,165
Cost of construction revenue			—			2,183			—			2,183
Selling, general and administrative			27,865			22,551			5,744			56,160
Stock-based compensation			141			50			2,494			2,685
Transaction-related charges			—			—			193			193
Restructuring and reorganization expenses			1,385			2,357			1,165			4,907
Depreciation and amortization			15,154			17,850			859			33,863
Amortization of intangibles from acquisitions			251			975			—			1,226
Loss on disposition of assets and transfers			122			2,563			—			2,685
Total Operating Expenses			78,673			91,939			10,455			181,067
Income (loss) from operations			16,221			(5,533)			(10,455)			233
Other income (expenses)
Interest income												132
Interest expense												(12,810)
Other expense												(591)
Other expense												(13,269)
Loss before income taxes												(13,036)

Other segment disclosures:
		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Net (income) loss attributable to non-controlling interests			(2,307)			4,541			—			2,234

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.


For the Three Months Ended June 30, 2024

		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Revenue
Communication Services
Mobility - Business		$	4,932		$	68		$	—		$	5,000
Mobility - Consumer			21,879			701			—			22,580
Total Mobility			26,811			769			—			27,580
Fixed - Business			18,715			30,817			—			49,532
Fixed - Consumer			43,500			21,674			—			65,174
Total Fixed			62,215			52,491			—			114,706
Carrier Services			3,636			30,056			—			33,692
Other			1,045			342			—			1,387
Total Communication Services Revenue			93,707			83,658			—			177,365
Construction			—			820			—			820
Other
Managed Services			1,650			3,446			—			5,096
Total Other Revenue			1,650			3,446			—			5,096
Total Revenue			95,357			87,924			—			183,281

Operating Expenses
Cost of communication services and other			33,812			42,325			—			76,137
Cost of construction revenue			—			813			—			813
Selling, general and administrative			28,260			22,867			6,534			57,661
Stock-based compensation			193			196			2,392			2,781
Depreciation and amortization			16,277			19,234			47			35,558
Amortization of intangibles from acquisitions			252			1,693			—			1,945
Gain on disposition of assets and transfers			(15,842)			(88)			—			(15,930)
Total Operating Expenses			62,952			87,040			8,973			158,965
Income (loss) from operations			32,405			884			(8,973)			24,316
Other income (expenses)
Interest income												140
Interest expense												(12,337)
Other expense												(578)
Other expense												(12,775)
Income before income taxes												11,541

Other segment disclosures:
		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated

Net (income) loss attributable to non-controlling interests			(5,137)			2,803			—			(2,334)

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.


For the Six Months Ended June 30, 2025

		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Revenue
Communication Services
Mobility - Business		$	9,706		$	46		$	—		$	9,752
Mobility - Consumer			42,657			—			—			42,657
Total Mobility			52,363			46			—			52,409
Fixed - Business			36,909			58,099			—			95,008
Fixed - Consumer			86,206			44,920			—			131,126
Total Fixed			123,115			103,019			—			226,134
Carrier Services			7,326			59,033			—			66,359
Other			3,829			174			—			4,003
Total Communication Services Revenue			186,633			162,272			—			348,905
Construction			—			3,262			—			3,262
Other
Managed Services			2,757			5,670			—			8,427
Total Other Revenue			2,757			5,670			—			8,427
Total Revenue			189,390			171,204			—			360,594

Operating Expenses
Cost of communication services and other			68,717			86,672			—			155,389
Cost of construction revenue			—			3,684			—			3,684
Selling, general and administrative			55,008			45,074			11,308			111,390
Stock-based compensation			357			127			4,106			4,590
Transaction-related charges			—			—			1,628			1,628
Restructuring and reorganization expenses			2,891			2,491			1,355			6,737
Depreciation and amortization			30,531			36,134			1,725			68,390
Amortization of intangibles from acquisitions			503			1,949			—			2,452
Loss on disposition of assets and transfers			413			3,021			—			3,434
Total Operating Expenses			158,420			179,152			20,122			357,694
Income (loss) from operations			30,970			(7,948)			(20,122)			2,900
Other income (expenses)
Interest income												404
Interest expense												(24,760)
Other expense												(3,158)
Other expense												(27,514)
Loss before income taxes												(24,614)

Other segment disclosures:
		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Net (income) loss attributable to non-controlling interests			(3,781)			8,474			—			4,693

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.


For the Six Months Ended June 30, 2024

		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Revenue
Communication Services
Mobility - Business		$	9,740		$	141		$	—		$	9,881
Mobility - Consumer			43,108			1,465			—			44,573
Total Mobility			52,848			1,606			—			54,454
Fixed - Business			37,247			65,783			—			103,030
Fixed - Consumer			86,289			44,593			—			130,882
Total Fixed			123,536			110,376			—			233,912
Carrier Services			7,209			60,109			—			67,318
Other			1,863			1,086			—			2,949
Total Communication Services Revenue			185,456			173,177			—			358,633
Construction			—			2,406			—			2,406
Other
Managed Services			2,960			6,077			—			9,037
Total other revenue			2,960			6,077			—			9,037
Total Revenue			188,416			181,660			—			370,076

Operating Expenses
Cost of communication services and other			67,967			88,710			(150)			156,527
Cost of construction revenue			—			2,382			—			2,382
Selling, general and administrative			57,891			47,946			13,142			118,979
Stock-based compensation			217			327			4,146			4,690
Transaction-related charges			—			—			19			19
Restructuring and reorganization expenses			1,190			—			—			1,190
Depreciation and amortization			32,400			37,372			125			69,897
Amortization of intangibles from acquisitions			503			3,421			—			3,924
(Gain) loss on disposition of assets and transfers			(15,842)			20			(600)			(16,422)
Total Operating Expenses			144,326			180,178			16,682			341,186
Income (loss) from operations			44,090			1,482			(16,682)			28,890
Other income (expenses)
Interest income												586
Interest expense												(23,857)
Other expense												(406)
Other expense												(23,677)
Income before income taxes												5,213

Other segment disclosures:
		International			US			Corporate and
		Telecom			Telecom			Other (1)			Consolidated
Net (income) loss attributable to non-controlling interests			(6,574)			5,873			—			(701)

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.

Schedule of selected balance sheet data for each segment

Selected balance sheet data for each of the Company’s segments as of June 30, 2025 and December 31, 2024 consists of the following (in thousands):


		International			US			Corporate and
		Telecom			Telecom			Other			Consolidated
June 30, 2025
Cash, cash equivalents, and restricted cash		$	66,726		$	44,866		$	1,723		$	113,315
Total current assets			164,452			153,829			9,471			327,752
Fixed assets, net			455,402			548,040			7,189			1,010,631
Goodwill			4,835			—			—			4,835
Total assets			701,302			914,121			91,583			1,707,006
Total current liabilities			100,323			132,017			36,684			269,024
Total debt, including current portion			64,900			320,472			198,027			583,399
December 31, 2024
Cash, cash equivalents, and restricted cash		$	35,231		$	51,604		$	2,409		$	89,244
Total current assets			129,866			168,754			10,541			309,161
Fixed assets, net			466,861			565,625			7,707			1,040,193
Goodwill			4,835			—			—			4,835
Total assets			675,642			957,914			93,547			1,727,103
Total current liabilities			85,588			147,490			34,236			267,314
Total debt, including current portion			59,850			316,241			181,265			557,356

Schedule of segment capital expenditures

The following notes the Company’s capital expenditures, by operating segment, for these periods (in thousands).


		Capital Expenditures

			International			US			Corporate and
Six months ended June 30,			Telecom			Telecom			Other (1)			Consolidated
2025		$	20,270		$	67,650		$	2		$	87,922
2024			28,951			77,498			1,579			108,028

(1)

Corporate and other items refer to corporate overhead costs and consolidating adjustments and have been presented for reconciliation purposes to consolidated amounts.